Separately, BidaskClub upgraded shares of Artesian Resources from a sell rating to a hold rating in a research note on Friday, September 27th.
Shares of NASDAQ ARTNA traded down $0.54 during midday trading on Thursday, hitting $36.19. The stock had a trading volume of 160 shares, compared to its average volume of 12,420. The business’s 50 day moving average is $36.50 and its 200-day moving average is $36.31. The company has a market cap of $339.56 million, a P/E ratio of 24.03 and a beta of 0.09. Artesian Resources has a 52 week low of $32.84 and a 52 week high of $40.97. The company has a quick ratio of 0.22, a current ratio of 0.24 and a debt-to-equity ratio of 0.75.
Artesian Resources (NASDAQ:ARTNA) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter. The firm had revenue of $20.65 million for the quarter. Artesian Resources had a net margin of 17.52% and a return on equity of 9.30%.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. This is an increase from Artesian Resources’s previous quarterly dividend of $0.25. The ex-dividend date is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.76%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE raised its position in Artesian Resources by 182.5% in the second quarter. US Bancorp DE now owns 774 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 500 shares during the period. Marshall Wace North America L.P. bought a new position in Artesian Resources in the first quarter worth approximately $40,000. Rhumbline Advisers raised its position in Artesian Resources by 3.3% in the first quarter. Rhumbline Advisers now owns 11,703 shares of the utilities provider’s stock worth $436,000 after acquiring an additional 370 shares during the period. Strs Ohio raised its position in Artesian Resources by 7.3% in the second quarter. Strs Ohio now owns 13,300 shares of the utilities provider’s stock worth $494,000 after acquiring an additional 900 shares during the period. Finally, Bank of America Corp DE raised its position in Artesian Resources by 21.6% in the second quarter. Bank of America Corp DE now owns 17,261 shares of the utilities provider’s stock worth $642,000 after acquiring an additional 3,069 shares during the period. Institutional investors and hedge funds own 42.30% of the company’s stock.
About Artesian Resources
Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services on the Delmarva Peninsula. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater services to customers in Delaware.
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